ITC: Bearish Momentum - Short Trade Setup
ITC Key Points
Trade Details:
Targets:
ITC Share Analysis:
Action Plan:
ITC's bearish journey continues—watch for TP3 and TP4! 🛑📉
ITC Key Points
- The 4-hour chart of ITC confirms a sustained downtrend, with TP1 and TP2 targets successfully achieved.
- The price action suggests the continuation of this bearish momentum, keeping TP3 and TP4 firmly in sight.
Trade Details:
- Entry Price: ₹508.85
- Stop Loss: ₹518.65 (strategically placed above resistance)
Targets:
- TP1: ₹496.70 ✅
- TP2: ₹477.05 ✅
- TP3: ₹457.40 (potential) 🔄
- TP4: ₹445.25 (final target) 🔄
ITC Share Analysis:
- Risological Alignment: The Risological trend line slopes downward, confirming the prevailing bearish trend.
- Price Structure: Lower highs and lower lows indicate a clear seller-dominant market environment.
- Momentum Strength: Strong red candles suggest heightened bearish activity, increasing the likelihood of hitting the remaining targets.
Action Plan:
- Existing Traders: Secure partial profits and trail stops to lock in gains.
- New Entrants: Wait for minor retracements toward the entry level for an optimal risk-to-reward ratio.
ITC's bearish journey continues—watch for TP3 and TP4! 🛑📉
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- 30-Day Money Back Guarantee!
- Accurate Entry, Stoploss and Take Profit levels
- NO Repaint
- Detects Sideways Market
- Limited time discount available. HURRY!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
- Supercharge your trading with > Risological.com
- 30-Day Money Back Guarantee!
- Accurate Entry, Stoploss and Take Profit levels
- NO Repaint
- Detects Sideways Market
- Limited time discount available. HURRY!
- 30-Day Money Back Guarantee!
- Accurate Entry, Stoploss and Take Profit levels
- NO Repaint
- Detects Sideways Market
- Limited time discount available. HURRY!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.